The company, whose shares plummeted 32% to a fresh record low after the announcement, said it was also in talks with some of its major shareholders for a cash call.
FastJet said if the restructuring plans do not pan out by the end of February, the Africa-focussed company would not be able to continue trading as a going concern. (Reporting by Muvija M and Noor Zainab Hussain in Bengaluru; Editing by Rashmi Aich)